First Data Partners with Huifu Payment Ltd to Expand Its Acquiring Footprint into China
September 19 2018 - 10:00PM
Business Wire
Partnership opens up the China market to
international merchants
First Data (NYSE: FDC), a global leader in commerce-enabling
technology, signed an agreement with Huifu Payment Ltd (Huifu,
01806.HK), a leading third-party payment provider in China, to
offer a market-leading global eCommerce solution into China.
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The collaboration with Huifu, a PBOC licensed third-party
payment provider with a strong presence in both the China POS and
online acquiring markets, will produce the integration of Huifu’s
technology platform with First Data’s payment gateway. The combined
technology delivers an integrated processing solution with the
ability for international merchants to seamlessly enable
multicurrency transactions from a single platform on a real-time
basis across markets.
“We are delighted to partner with First Data,” said Mr. Ye Zhou,
Chairman of the Board, Executive Director and Chief Executive
Officer of Huifu. “Huifu provides First Data with the ability to
route transactions and settle domestically in China offering a
seamless eCommerce solution to the global merchant base of the
largest acquirer in the world. With Huifu’s local expertise and
First Data’s global presence we offer a unique solution to
merchants around the world to tap into the immense eCommerce market
in China.”
The offering will be compelling to international merchants
serviced by First Data’s global eCommerce platform with an interest
in attracting incremental spend from China’s eCommerce consumer
base. The solution integrates local Chinese language and local
payment methods including China UnionPay, Alipay and Wechatpay into
merchants’ websites, providing a seamless, and importantly, a
familiar shopping experience for consumers in China, encouraging
high adoption rates and therefore higher conversion rates.
“Making consumers’ shopping experiences as seamless as possible
and offering familiar local payment methods is key to reducing
shopping cart abandonment and driving successful cross-border
commerce,” said Ivo Distelbrink, Executive Vice President, Head of
Asia-Pacific, at First Data. “We are excited about the opportunity
that this partnership with Huifu brings to our global merchant base
who will now be able to benefit from domestic processing and
settlement in RMB. As we continue to expand across the Asia-Pacific
region, we will extend coverage to new markets and collaborate with
carefully selected partners to deliver the solutions that meet our
clients’ ever-changing needs of the local consumer.”
About First Data
First Data (NYSE: FDC) is a global leader in commerce-enabling
technology, serving approximately six million business locations
and 4,000 financial institutions in more than 100 countries around
the world. The company’s 22,000 owner-associates are dedicated to
helping companies, from start-ups to the world’s largest
corporations, conduct commerce every day by securing and processing
more than 3,000 transactions per second and $2.4
trillion per year. For more information,
visit www.firstdata.com and follow us on Twitter
at @FirstData.
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version on businesswire.com: https://www.businesswire.com/news/home/20180919005773/en/
Andrea DuffyPublic RelationsFirst
Data646-984-0240Andrea.Duffy@firstdata.comJoanne EnglandMarketing
and Communications, APACFirst Data+852 9309
2213Joanne.England@firstdata.com
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